Scomi Group defaults on repayment of RM42m loans

Scomi Group said it was not able to meet its obligation to repay the loans at the repayment deadline due to financial constraints and therefore has defaulted its loan payment.

KUALA LUMPUR: Scomi Group Bhd has defaulted in repaying in full by one bullet repayment of RM21mil each to Tan Sri Wan Azmi Wan Hamzah and Gelombang Global Sdn Bhd (GGSB), respectively.

The Practice Note 17 company said on Tuesday the total amount defaulted was RM42mil together with interest, which was due on Jan 18,2020.